You've decided that yes, you need to sell an investment from your portfolio. Selling a loser is no problem for most investors (though we'd advise against selling an investment simply because it's down--further investigation is almost always warranted). But what about an investment where you've made a few bucks? If you're selling the investment from a taxable account, Uncle Sam will be right behind you with his open hand.

The idea of paying taxes on investment gains shouldn't stop you from selling securities that you want to sell. But you need to realize what the tax consequences of any sale would be. By putting off a sale, you may be able to save a bundle in taxes.

Here's how to figure out how much appreciation you're sitting on, the scenarios where you'd probably be best off accepting the tax consequences, and where delaying a sale might be the better choice.